Michigan Trust Co. v. Grand Rapids Hotel Co.

Prior to February 7, 1922, the Kent State Bank had purchased what was known as the old Morton Hotel property in Grand Rapids, and had obtained an option on certain real estate adjoining it on the rear, along Ionia avenue. Its purpose was to erect a new bank building thereon. ■ A number of the prominent business men of that city, of whom Miner S. Keeler was perhaps the most active, desired to see a new first-class hotel erected on that site. The bank yielded its assent thereto, and on February 7, 1922, an agreement was entered into between it and Mr. Keeler and a group of others interested,…